After the controversies over the World Bank-funded road projects in the Philippines, it's business as usual between the two. On Friday, the multilateral lender said it may provide the southeast Asian country as much as $3 billion in funds for the next three years. It said the funds are part of its country assistance strategy (CAS).

In a statement released Friday, the multilateral lender said it has completed consultations with the government on the CAS, which is set to take effect from July 2009 to June 2012.

Under the CAS, the World Bank proposed to allot funds ranging from $700 million to $1 billion every year to work for poverty alleviation and good governance in the Philippines.

"The flexibility offered by the emerging CAS in terms of the indicative financing program is welcomed by the Philippine government, particularly given the current global economic crisis which may impact on the priorities of the government," said Ronaldo Tungpalan, Deputy Director General of the National Economic and Development Authority.

The CAS is a joint program of the World Bank and its units, the International Finance Corporation and the Multilateral Investment Guarantee Agency. The World Bank Group will operationalize the CAS through engagements at the national, local, and private sector levels.

The assistance strategy will help the government in achieving inclusive growth by pursuing strategic objectives such as a stable macro economy, improved investment climate, better public service delivery, reduced vulnerabilities, and good governance.

"In times of uncertainties like the current global financial crisis, inclusive growth calls for greater social protection for the poorest of the poor to help them cope with economic shocks as well as the impacts of disasters and calamities induced by climate change," World Bank Country Director Bert Hofman said.

Possible operations for the CAS include program-based development policy operations, analytical and advisory activities, developments in transport, rural power, agriculture, and agribusiness, urban renewal, public-private partnerships in sub-national water projects, and local government finance.

Other programs may include support for educational and health programs, community-driven development, social protection systems, disaster risk management, stability and peace, anti-corruption, public financial management reforms, and local governance through more effective decentralization.

"This signifies a strong partnership for development, which we believe to be a strong asset for the country and crucial for achieving results on the country's development goal," Hofman said.